Last checked at 22 Aug 2017 07:00
Hostelworld Group plc("Hostelworld", "the Group" or "the Company")
Board Changes
Hostelworld, the world's leading hostel-focused online booking platform, announces that Richard Segal has informed the Board of his intention to resign as Non-Executive Chairman, a position he has held for 6 years. Richard has led the Group through a period of strong change and growth, as both a private and listed business, and the Board expresses its deep gratitude for his guidance and contribution during that time.
After a period of transition Richard will be succeeded by Michael Cawley, currently Senior Independent Non-Executive Director, during 2017 at a date yet to be confirmed.
Hostelworld also announces the appointment, effective 1 October 2017, of Carl Shepherd as a Non-Executive Director.
Carl brings an immense wealth of listed company experience in the international on-line travel industry. This includes 10 years with HomeAway, which he co-founded in 2005 and where he served on the Board of Directors and was the company's founding Chief Operating Officer and Chief Strategic and Development Officer, a capacity he fulfilled until its sale to Expedia, Inc. in December 2015, and his current Board position at @Leisure Group, one of the largest on-line markets for holiday rental in Europe. His previous roles include COO and Chief Development Officer of Hoover's Online, which he helped develop to become a leading source for business information online, culminating in an IPO in 1999 and its subsequent sale to Dun & Bradstreet in March 2003.
The search is underway for a further Non-Executive Director, who will Chair the Audit Committee subsequent to Michael Cawley becoming Chairman of the Company, to complement the skills and experience of the Board.
Richard Segal, Chairman, commented:
"I welcome Carl to Hostelworld. He brings highly complementary knowledge and experience of our industry and markets, and his counsel will be of great benefit as we continue to take the Group forward."
"It has been a privilege to undertake the role of Chairman of Hostelworld over the last 6 years, a period which has seen the Group undertake much change and make strong progress. Hostelworld is very well positioned to prosper in its growing international markets, and I wish Michael, Feargal and everyone at the Group well for the future."
Other than those laid out above, the Company confirms that there are no additional details that are required to be disclosed under 9.6.13R of the Listing Rules of the Financial Conduct Authority, with regards to Carl Shepherd, as a newly appointed Director.
ends
For further information please contact:
Hostelworld Group plc
Richard Segal, Chairman
Feargal Mooney, Chief Executive Officer
Tel: +353 (0) 1 498 0700
Weber Shandwick
Nick Oborne
Tom Jenkins
Tel: +44 (0) 20 7067 0000